- Hot and spicy Day at Auto Expo 2016When Irrfan rejected Steven Spielberg film'Chamma Chamma' girl Urmila's controversiesSecond poster of 'Kapoor And Sons' outRiteish, Genelia celebrate love on 4th anniversaryVideocon launches Z45 Dazzle at Rs.4,899Gorgeous Katrina spotted at Auto Expo 2016Ranveer does not take himself seriouslyJanuary 2016 coldest in 30 yearsVitara Brezza, BMW 1 series,Tucson launched at Auto Expo 2016
The Indian national football team has gained a place to be 162nd in the latest rankings re
Landlord's PAN must for tax benefit if rent exceeds Rs 1 lakh Last Updated : 18 Dec 2013 03:33:41 PM IST Quoting PAN number of landlord is must if the annual house rent exceeds Rs 1 lakh (File Photo)
Quoting landlord's PAN is mandatory if you pay more than Rs 1 lakh annually towards house rent.
If the PAN is not furnished then it would not be possible to claim tax benefit under House Rent Allowance.
"...an employee claiming exemption from tax with respect to House Rent Allowance received is now required to report the PAN of the landlord to the employer, if the rent paid by the employee to the landlord exceeds Rs 1 lakh per annum, along with the rent receipt," said Minister of Sate for Finance J D Seelam in a written statement in the Rajya Sabha on Tuesday, Dec 17.
He quoted a circular by the Central Board of Direct Taxes (CBDT) on the matter of deduction of tax at source during the payment of salaries.
"In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employees," he added.
In a separate response, Seelam said the number of tax assesses have increased manifold. In the past 15 years, the number of effective IT assesses has increased by more than three times from 1.16 crore as on March 1997 to 3.63 crore at the end of March 2012.
He also said 42,800 persons other than companies admitted to a taxable income exceeding Rs 1 crore.
"The Cabinet has approved the cadre restructuring of the Income Tax Department in May 2013. The implementation of the same is under progress," he said.
Additional 1,080 assessment units to be manned by around 20,000 more personnel have been created to meet the increasing number of IT assesses, he said.
Source: IANS, Other Agencies, Staff Reporters
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
"Ki & Ka" will feature the unusual pairing of Arjun Kapoor and actress Kareena Kapoor for
- All you want to know about Shahid's Valentine's Day plan
- Abhishek celebrates birthday on cruise
- Randeep's shocking malnourished look in 'Sarabjit'
- When Sunny went topless!
- Bollywood wishes Abhishek on birthday
- Review: Sanam Teri Kasam
- Review: Ghayal Once Again;outstanding
- When Irrfan rejected Steven Spielberg film
When one spouse passes away, his or her characteristics continue to be linked with the sur
Samsung launched two new A series smartphone Galaxy A5 2016 and the Galaxy A7 2016 at For